City of Newark Service Committee Agenda Packet April 2026
Newark Seeks EPA Loan For Lead Line Project
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Description
The City of Newark plans to enter into a Water Supply Revolving Loan Account Agreement with the Ohio Environmental Protection Agency to finance Lead Service Line Replacement Project #8, with an estimated project cost of $4 million. The loan will feature 53% principal forgiveness and 47% zero-interest financing over 20 years, supporting planning, design, and construction starting in January 2027.
Contract Details
Contract Amount
$4,000,000 estimated (53% principal forgiveness, 47% 0% interest)
Vendor
OHIO ENVIRONMENTAL PROTECTION AGENCY
Agency
Town of Newark, OH
Contract Type
FINANCIAL_SERVICES
Document Date
April 20, 2026
Contract Term
20-year loan term anticipated, construction starting January 2027
Renewal Info
Single 20-year WSRLA loan with 53% principal forgiveness and 47% at 0% interest; no renewal terms described.
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